ForexSecret123 (5)

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How to Become a Successful Forex Trader? 

• On this presentation we will explain how to
  become a successful forex trader.

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2
How to Become a Successful Forex Trader? Continue

• Forex trading is educational, accessible,
  exciting, and offers traders lots of
  opportunities for good earning. Even after doing
  all these things most of the traders fail to
  achieve the target in this forex market.
• In fact, if you look at the forex business 90
  of people are losing their money.  Learning forex
  is a little bit difficult and time- consuming
  that is the reason why we have created this
  article for you.
• In this presentation, we will try to explain how
  you can be successful in Forex trading and how to
  play in the live market. It is the best practice
  for forex business beginners. As you are here,
  that means you are already on the right path to
  be a good Forex trader.

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3
Beginner's Guide for Forex Trading

• In forex business you have to select a goal, what
  you want to achieve that should be very clear to
  you, for example, say for example, you want to
  take in 15 profit or you want to earn 5000 a
  month. Whatever you decide, it has to be very
  clear and it is also very important to set an
  achievable goal. 
• Once you have decided your goal now it's time to
  learn how to achieve your goal. The first thing
  you have to identify is the availability of
  resources around you, what you can get free of
  cost.
•  First, go through Google and YouTube and try to
  learn as much information as you can. It is
  better to talk to someone who has experience in
  forex reading.
• Don't rely on one person, try to triangulate the
  information and talk to multiple people to get
  knowledge and after that, you can spend some
  money on training for purchasing software for the
  betterment of your Forex trading.  

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4
Importance of Forex Education

• Forex is one of the most constantly changing
  markets.  So as a trader, you have to understand
  the ups and downs in this market. There is no
  structured formula or rules to gain success in
  this business.
• Instead, it is a combination of lots of things
  and to be successful in this market, you have to
  be patient, mindful and talented. Consistency is
  very important in Forex trading. Novice with no
  experience might win in forex trading and
  experience people might lose in the business but
  in the long run, the experience people will
  survive. That's why Forex education is very
  important.

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5
Follow some steps to be a good Forex trader

• Never Procrastinate
• More practice
• Never stop Learn
• Never stop Learn
• Invest what you can bear
• Start with a single currency pair
• Always Control your emotions
• Develop upon your own strategy
• Maintain a proper record

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6
Never Procrastinate

• This is a very important step for becoming a
  forex trader. If you look at the lifestyle of the
  successful traders they do not put their work for
  tomorrow, what they can do today and in the forex
  business, it is very important.
•  You have to utilize every opportunity in this
  forex trading business. so you have to leave the
  habit of Procrastination. Trading in the demo
  account will help you to get rid of your
  procrastination.

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7
More practice

• Practice makes a man perfect. So the best way to
  learn Forex trading is to practice a lot but the
  problem is I cannot lose my money for practicing.
  
• So the best way to practice is to use a demo
  account. In the demo account, you can practice as
  much as you can.  But some people use 1 million
  dollars to trade but in real life, they might not
  invest more than 1000 dollars, so try to keep
  your demo account consistent with your reality.
  It will give you an idea of realistic trading. 
•  

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8
Never stop Learn

• We often hear these words never stop learning
  and that is very true. Proper education is very
  imperative in every sector. In the forex
  business, you have to keep learning every day.
  You have to learn new things so that you can make
  your prediction better. The more you read the
  better your prediction will be. 

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9
Recognition of the facts
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• If you want to maximize your profit you must
  understand
• the risk and safety in this forex business. You
  have to be
• self-aware. You have to understand the risk to
  reward ratio.
• If you cannot maintain the proper risk to reward
  ratio,
• you might not survive in the market for the long
  term. 
•  

10
Invest what you can bear

• Always start with a small amount. Try to increase
  the capacity of your account with that profit. It
  is better not to invest further with a new
  deposit. Do not invest a large amount to earn a
  profit, starting a small business will minimize
  your risk. So it is important to understand how
  forex works and you how you can trade Forex
  successfully.   

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11
Start with a single currency pair
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• Currency trading is a little bit complicated
  because
• it is unpredictable in nature. Everyone wants to
  be
• successful but at the same time it is very
  difficult to
• be a good trader in the competitive financial
  world.
• So the first piece of advice would be to start
  with a
• single currency pair.  
•  

12
Always Control your emotions

• 90 of people fail in forex business because of
  their
• greed and emotion. The first thing you have to
  learn
• from forex business is to control your emotions.
• If you cant control your emotions it is better
  not
• to come in the forex profession.   
•  

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13
Develop upon your own strategy

• In trading, you should develop your own strategy
  and make sure you follow it. It is always better
  not to change your decision suddenly in the
  halfway out of your emotion, because if you do
  so, it can harm you greatly. If you follow your
  own strategy with great conviction, it can
  certainly help to avoid great mistakes. 

14
Maintain a proper record
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• We learn from our mistakes. In the forex
  business, we have to implement this. All records
  of your success and failure, especially the major
  mistakes and positive steps that you have gone
  through in the process of earning the profit.  

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Thanks for reading

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